Want to see cronyism and
favoritism at work in the economy? Before you settle in to watch
tonight’s Oscars, think about the ways in which Hollywood trims its
costs at taxpayer expense. Here’s ;Glenn
Reynolds of Instapundit writes in a must-read Wall Street Journal
Of the nine “Best Picture” nominees in 2012…five were filmed
on location in states where the production company received
financial incentives, including “The Help” (in Mississippi) and
“Moneyball” (in California). Virginia gave $3.5 million to this
year’s Oscar-nominated “Lincoln.”
Such state incentives are widespread, and often substantial, but
they don’t do much to attract jobs. About $1.5 billion in tax
credits and exemptions, grants, waived fees and other financial
inducements went to the film industry in 2010….
But at least all that dough creates good-paying jerbs,
The $1.5 billion in subsidies that states provide, according to
the Center on Budget and Policy Priorities, “would have paid for
the salaries of 23,500 middle school teachers, 26,600 firefighters,
and 22,800 police patrol officers.” Or it could have gone to cut
taxes on small businesses, which, as [actress Eva] Longoria noted
in her DNC speech, produce two out of three jobs in the
Read the whole thing here.
Over the years, Reason has been all over the non-existent case
for film subsidies like Rex
Reed on a celebrity profile.
Read our coverage here.
And watch our interview on the subject with Gavin Polone, the
producer behind entertainment as great and varied as Zombieland,
The Gilmore Girls, and Curb Your Enthusiasm.
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